SOUTHFIELD, Mich. (September 15, 2008) – The commercial vehicle market for classes 3-8 vehicles is expected to grow to 723,000 by 2012, according to R. L. Polk & Co. The announcement was made in conjunction with the release of Polk’s new Forecast of Commercial Vehicle Activity for North America which provides valuable insight into the class 3-8 commercial vehicle market through 2012. The forecast methodology contains a forecast for New Registrations, scrappage rates and total Vehicles In Operation through the 2012 Calendar Year.
Available to customers now, Polk’s unique offering provides an econometric-based model, allowing customers to maximize their sales opportunities by better understanding the North American market for commercial vehicles.
This new offering is based on Polk’s fact-based predictive modeling, an in-depth analysis of the vehicle population and the companies understanding of the relationship between economic activity and New Commercial Vehicle Registrations. This understanding, knowledge and expertise of the New Commercial Vehicle Market provides Polk the ability to develop this comprehensive Commercial offering. The forecast also correlates closely with Polk’s Index of commercial activity, updated quarterly in the Commercial Vehicle Market Intelligence Report, which tracks where each vehicle class is trending for the current Calendar Year.
“Early response and feedback from our customers and prospective users of this information is very promising,” said Gary Meteer, account director for Polk’s Commercial Vehicle Team. “With this new solution, our customers can make better strategic business decisions using information from a single comprehensive source.”
The Forecast of Commercial Vehicle Activity is a natural extension of Polk’s expertise in the commercial vehicle market, and offers Polk customers the opportunity for the standard forecast of New Registrations and Vehicles in Operation or the ability to custom-tailor a solution based on their specific business planning needs. Standard forecast detail is available by service year and gross vehicle weight (GVW). Additionally, dependent upon the needs of each individual customer, a custom forecast can be developed by brand, location, configuration and delineation. These varying levels of detail will be important to
Polk customers as the industry is preparing for changes in diesel requirements in 2010.
“Polk’s new offering for the North American commercial vehicle market enables us to expand our capabilities and provide increased value and benefit to our customers,” said Meteer. “We are confident this new data offering will provide significant insight for customers as they analyze business opportunities in North America’s commercial vehicle industry and plan for the future.”
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and marketing
solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada,
China, France, Germany, Japan, Spain, the United Kingdom and the United States.